Canada has initiated a formal dispute complaint against the United States at the World Trade Organization (WTO) over its imposition of import duties on certain steel and aluminium products from Canada.
The trade body which revealed this on Thursday also said that the request was circulated to its members.
Under the dispute settlement understanding - a legal text which outlines various processes of settling trade disputes at the WTO, “the consultations allow parties involved to clarify the facts of the matter and claims of the claimant.
“It also serves to either lay the foundation for a settlement or for further proceedings”
Canada claims that the recent measures which terminate Canada’s exemption from additional duties on steel and aluminum products are inconsistent with US obligations under the General Agreement on Tariffs and Trade (GATT) 1994.
This comes a day after it imposed a 25% tit for tat tariff on US goods including steel, computers and sports equipment.
U.S. President Donald Trump, speaking to reporters in the Oval Office on Thursday, suggested he was not going to change his mind on tariffs.
"We've been ripped off for years and we're not going to be ripped off anymore. I'm not going to bend at all, aluminium or steel or cars," he said.
He also threatened the EU with a 200% tariff hike on wine exports if it doesn’t remove its tariff increase on American whiskey products in an escalation of ongoing tariff tit for tat.
The European Union is yet to react to President Trump’s latest tariff threat as the possibility of a global trade war continues to agitate financial markets and raise fears of economic recession.
Meanwhile G7 ministers meeting in Canada have called for a de-escalation of an impending trade war saying that “a trade war is not convenient for anyone”.
U.S. President Donald Trump has again said Iran is keen to reach a deal quickly, but a senior Iranian security official rejected the claim, saying ...
A Danish military helicopter came within “metres” of being struck by flares fired by a Russian warship, Denmark's Defence...
A Russian strike on a farm warehouse in Pryluky, north-central Ukraine, has killed at least three people, local police said. Meanwhile, EU foreign ...
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
U.S. Central Command said 101 commercial vessels have been redirected in the Strait of Hormuz, while oil prices rose more than three per cent amid fresh regional attacks and supply concerns.
U.S. President Donald Trump has again said Iran is keen to reach a deal quickly, but a senior Iranian security official rejected the claim, saying Tehran will not negotiate until its conditions are met.
A Russian strike on a farm warehouse in Pryluky, north-central Ukraine, has killed at least three people, local police said. Meanwhile, EU foreign policy chief Kaja Kallas said an attack on a train near the Polish border was an attempt to intimidate Ukraine's allies.
A Danish military helicopter came within “metres” of being struck by flares fired by a Russian warship, Denmark's Defence Minister Jeppe Bruus said on Tuesday. Russia accused Denmark of carrying out “dangerous manoeuvres” near its ship, and said it was investigating the incident.
A Danish military helicopter came within “metres” of being struck by flares fired by a Russian warship, Denmark's Defence Minister Jeppe Bruus said on Tuesday. Russia accused Denmark of carrying out “dangerous manoeuvres” near its ship, and said it was investigating the incident.
McDonald's and Chinese food-delivery giant Meituan have launched China's first drone-delivery route dedicated to a single catering brand, bringing the technology to Shanghai's popular West Bund riverfront.
The U.S. Environmental Protection Agency (EPA) has announced plans to scrap Biden-era carbon emission limits on coal- and gas-fired power plants, marking a major reversal in U.S. climate policy.
University students in Mexico have held a vigil for a 21-year-old Spanish exchange student killed in the central state of Morelos, with authorities investigating her death as a possible feminicide.
Every day since a torrent of mud and rocks destroyed a Nepal-China border crossing high up in the Himalayas last month, Arushi Gupta's parents have called and messaged their missing daughter hoping she somehow survived.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment